The Milwaukee Bucks and general manager Jon Horst have agreed to a multiyear contract extension, sources told ESPN on Thursday.

The Bucks' ownership and Horst's agent, Brian Elfus, reached a new deal late Wednesday night for the NBA championship executive and 2019 NBA exec of the year before his contract expired.

The Bucks have made the playoffs in all eight of Horst's seasons as general manager and have a .647 winning percentage -- second-best in the NBA during that span, per ESPN Research. Horst, 42, started in basketball operations roles in Milwaukee and Detroit before being promoted to Bucks GM in 2017.

Horst, the architect of the Bucks' first championship in 50 years in 2021, has made several signature transactions as the leader of the franchise's basketball operations. In 2018, he led the hiring of head coach Mike Budenholzer and signed Brook Lopez as a free agent. He traded for Jrue Holiday in 2020, and then he landed Damian Lillard in a blockbuster deal right before the 2023 NBA season.

The Bucks (48-34) finished this season with the No. 5 seed in the Eastern Conference. Milwaukee is down 2-0 to the Indiana Pacers in their first-round playoff series.